Economy Of Laos
The economy of the Lao Peoples' Democratic Republic is rapidly growing, as the government began to decentralise control and encourage private enterprise in 1986. It opened a stock exchange in 2011, and has become a rising regional player in its role as a hydroelectric power supplier to neighbors such as China, Vietnam and Thailand, although the country remains one of the poorest countries in South-East Asia. A landlocked country, it has inadequate infrastructure and a largely unskilled work force. The country's per capita income in 2009 was estimated to be $2,700 on a purchasing power parity-basis.
Read more about Economy Of Laos: History, Agriculture, Tourism, Other Statistics
Famous quotes containing the word economy:
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)